SAN FRANCISCO, California—Duetto, a supplier of income administration software program for the hospitality {industry}, introduced the acquisition of HotStats. The acquisition is a part of Duetto’s objective to develop into the definitive income and revenue working system for the lodge {industry}, equipping hoteliers worldwide with a differentiated view of each their top-line income and working efficiency throughout rooms, meals & beverage, and ancillary providers.
“We’re thrilled to welcome HotStats into the Duetto household,” mentioned David Woolenberg, CEO of Duetto. “By augmenting our current suite of options with HotStats’ industry-leading monetary benchmarking knowledge asset, we’re capable of ship the {industry}’s most complete answer for driving income and revenue optimization. Collectively, we are going to reimagine what’s attainable for lodge income and profitability.”
HotStats’ core providing in lodge profitability benchmarking enhances Duetto’s mission to unify each income stream below one platform. This new partnership will give hoteliers a transparent, actionable view of their general earnings, driving data-backed selections that enhance effectivity and elevate the visitor expertise.
“Duetto’s dedication to reshaping income and revenue optimization resonates strongly with our complementary give attention to actionable monetary insights,” mentioned Michael Grove, CEO of HotStats. “We see monumental potential in becoming a member of forces, extending our influence to assist inns establish alternatives to enhance effectivity, higher meet buyer demand, optimize profitability throughout each side of their operations.”
“HotStats has lengthy been a pioneer in profitability benchmarking, and it is just becoming that the following stage of its evolution shall be with an equally visionary hospitality know-how supplier,” mentioned Jonathan Langston, founder and retiring Chairman of HotStats.
This acquisition highlights Duetto’s dedication to strategic enlargement below the possession of GrowthCurve Capital, which acquired Duetto final 12 months. The whole HotStats group shall be becoming a member of Duetto as a part of the transaction.
Houlihan Lokey served as monetary advisor and Orrick, Herrington & Sutcliffe served as authorized counsel to Duetto. Gately Plc served as authorized counsel to HotStats. Phrases of the transaction weren’t disclosed.
